How Deadly Is Financial Leverage? Evidence from Care Homes During the COVID-19 Crisis

Peter Morris
Peter Morris
[email protected]
Independent researcher
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Ludovic Phalippou
Ludovic Phalippou
[email protected]
https://orcid.org/0000-0002-4518-8700
Finance, University of Oxford, Oxford OX1 1HP, United Kingdom
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,
Betty Wu
Corresponding Author
Betty Wu
[email protected]
https://orcid.org/0000-0002-5153-4964
University of Glasgow Adam Smith Business School, Glasgow G12 8QQ, United Kingdom
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Peter Morris

[email protected]

Independent researcher

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,

Ludovic Phalippou

Ludovic Phalippou

[email protected]

https://orcid.org/0000-0002-4518-8700

Finance, University of Oxford, Oxford OX1 1HP, United Kingdom

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,

Corresponding Author

Betty Wu

[email protected]

https://orcid.org/0000-0002-5153-4964

University of Glasgow Adam Smith Business School, Glasgow G12 8QQ, United Kingdom

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Published Online:3 Jul 2025https://doi.org/10.1287/mnsc.2023.02923

Supplemental Material

mnsc.2023.02923.sm1.pdf

The replication files for this article are available HERE.

cover image Management Science

Volume 72, Issue 3

March 2026

Pages 1727-2679, iv-vi

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Received:September 11, 2023
Accepted:March 07, 2025
Published Online:July 03, 2025

Copyright © 2025, INFORMS

Cite as

Peter Morris, Ludovic Phalippou, Betty Wu (2025) How Deadly Is Financial Leverage? Evidence from Care Homes During the COVID-19 Crisis. Management Science 72(3):1769-1795.

https://doi.org/10.1287/mnsc.2023.02923

Keywords